[Edaily Reporter Kim Hyung-il ] B2En(307870)announced on the 18th that it will break away from Ssangbul’s existing management structure and establish an independent management system centered on a new majority shareholder.

B2En’s largest shareholder has changed from the existing XTwins No. 1 Fund to the Strage No. 1 Fund. The Strage No. 1 Fund holds 17,124,356 shares of B2En, securing a 23.05% stake, and disclosed that the purpose of the holding is to “exercise influence over management.”

Major remaining share transactions related to the transfer of management control have also been finalized. Transactions with JS No. 1 Partnership, Trinity No. 1 Partnership, and Ribbon SY CO., LTD. No. 1 Partnership were completed on the same day with the payment of the balance.

Double Media also provided financial support during this management restructuring process. Strategy Fund No. 1 borrowed 7.5 billion won from Double Media to fund the acquisition of B2En shares. Double Media also participated in a 15 billion won convertible bond (CB) issued by B2En. As a result, the total funds Double Media invested to secure management control and establish a new foundation for growth amount to 22.5 billion won.

Double Media operates a digital platform and content business centered on the internet broadcasting platform “Panda TV.” According to its 2025 audit report, the company recorded operating revenue of 121 billion won, operating profit of 73.3 billion won, and net income of 56.3 billion won. Cash flow from operating activities was 70.4 billion won, and cash and cash equivalents totaled 49 billion won.

B2En focuses on data consulting, data platforms, big data, and artificial intelligence (AI) as its core businesses. Consequently, attention is being drawn to the potential for business synergy between Double Media, which possesses platform and content capabilities, and B2En, which holds data and AI technologies.

However, no specific new ventures or synergy projects between the two companies have been finalized. At this point, it is appropriate to view the situation as follows: based on financial support from Double Media, the reorganization of B2En’s management control has been completed, and the possibility of expanding business by combining data and AI with platforms and content has been opened up.

A B2En official stated, “Based on our new independent management structure, we will focus on enhancing the company’s fundamental competitiveness and corporate value,” adding, “We will strengthen our existing data and AI businesses while actively seeking new growth engines.”